The private equity firm General Atlantic has approached JPMorgan Chase (JPMC) to head up its initial public offering (IPO) efforts, according to Reuters.

Citing a source close to the matter, the newswire said General Atlantic is in active discussions with JPMC for the IPO, as well as Goldman Sachs and Morgan Stanley.

General Atlantic filed for a US IPO in December 2023 but did not proceed amid a poor market and a string of companies underperforming after going public .

The Wall Street Journal separately reported that General Atlantic is reigniting its attempt to float, citing other sources with information on the talks.

Reuters reached out to General Atlantic, Morgan Stanley, and Goldman Sachs and was declined comment, while JPMC did not respond to the request.

General Atlantic manages approximately $130 billion in assets and holds investments in firms such as Anthropic and Gymshark. Since 2023 it has been the majority shareholder in the Danish food and beverage firm Joe & the Juice.

In May, General Atlantic also backed Anthropic’s new AI services firm, alongside Blackstone, investment firm Hellman & Friedman, and Goldman Sachs.

If it targeted an IPO this year or next, General Atlantic would join a number of major debuts, particularly in the AI market. The aerospace and AI firm SpaceX debuted at $1.77 trillion, the largest in history, and Anthropic is targeting a valuation of up to $2 trillion. Rival AI firm OpenAI has also filed for IPO.

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